EZ Growth Slows in December

Growth in the eurozone economy slowed slightly in December from the previous month, new monthly figures suggest.

The Purchasing Managers’ Index (PMI) figure for December fell to 54, down from November’s figure of 54.2, according to Markit.

Any figure above 50 indicates growth.

Eurozone inflation was also revised up to 0.2% in November, down from the previous month, and down 7.3% compared with the same period the year before.

The greatest price increase in November was for unprocessed food, which rose 2.7% – however, that is lower than October’s rise of 3.2%.

Despite eurozone economic growth dipping in December, the last three months of 2015 saw the strongest quarterly growth in more than four years, Markit said, with the services sector showing its largest monthly gain since November 2010.

The pace of growth in the manufacturing industry sped up at the fastest rate in 20 months, outpacing the growth in the services sector for the first time in more than a year – although costs and wages in manufacturing continued to rise.

Growth in employment in manufacturing was reported to be “stuck at a modest pace”.
Germany enjoyed “ongoing solid growth”, while France “slowed closer to stagnation”.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.